ABB to Acquire GE Industrial Solutions for $2.6 Billion

The release said, “GE Industrial Solutions is headquartered in Atlanta, GA, and has about 13,500 employees around the world. In 2016, GE Industrial Solutions had revenues of approximately $2.7 billion. … As part of the transaction and overall value creation, ABB and GE have agreed to establish a long-term, strategic supply relationship for GE Industrial Solutions products and ABB products that GE sources today.” “With GE Industrial Solutions, we strengthen our #2 position in electrification globally and expand our access to the attractive North American market,” said ABB CEO Ulrich Spiesshofer. http://www.electricalmarketing.com/

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